Woodforest National Bank® is a privately held bank headquartered in The Woodlands, Texas. Established in 1980, the $6.4 billion-asset institution proudly stands among the strongest community banks in the nation, operating more than 700 branches in 17 different states across the United States. Woodforest is also well known for its hundreds of retail branches located within some of the most prominent operators of big box retail and grocery stores.
Woodforest is committed to earning customer loyalty by offering the highest level of customer service and competitive products and services through “relationship banking” by employees who are fair, responsive and professional.
Whether it is front line operations, the secondary support teams doing research, or our business teams looking for a better understanding of card usage or ATM channel performance, INETCO’s real-time transaction data platform has positively impacted us all. Woodforest has been able to take a multi-faceted approach to real-time transaction intelligence. This data strategy has measurably paid off in terms of operational efficiency, customer experience and branch profitability.
Like many other financial institutions, ATMs play an increasingly important role at Woodforest. Faced with a growing number of customer transactions shifting to cards and the ATM self-service channel, Woodforest recognized it was time to investigate new ways to optimize the health of their electronic payments ecosystem. Emerging requirements for Woodforest included the ability to:
Woodforest chose real-time transaction data specialists, INETCO, to provide a real-time monitoring, analytics and data streaming solution that met these requirements. INETCO’s real-time transaction data platform allows Woodforest to continuously monitor and analyze the primary and peripheral systems related to payment card transactions and the management of ATMs. It provides a 24×7, centralized performance view into:
Woodforest’s rich transaction intelligence is then stored within a prominent, scalable open source database, and forwarded to user friendly dashboards created using INETCO Analytics for on-demand visualization, reporting and analysis of:
INETCO’s real-time transaction monitoring, analytics and data streaming solutions have helped Woodforest improve operational efficiency and promote fact-based decision making, even down to the branch level. Woodforest believes that rich transaction intelligence has also helped them drive more business and improve branch profitability by:
Woodforest continues to work with INETCO, exploring new ways to derive meaningful insights from their real-time transaction data. Emerging use cases include early warning fraud detection and third party and internal system monitoring.